AVs are also expected, to a significant degree, to shift vehicle ownership from large numbers of individual insurance customers with limited power to influence their premiums, to a few corporate owners with greater buying power. This too should force down premiums.I never underestimate humankind. No doubt it will be able to have accidents regardless of whether the cars would prevent them or not! LOL
The other issue of course is the time horizon. The average vehicle stays on the road for 12 years. When these vehicles appear, you still have a long phase out before the vehicles without the safety features are off the roads. You see the problem now for insurers. New cars are safer and prevent or mitigate bodily damage but jack the price of repairs. Old cars are cheap to replace but result in higher levels of bodily damage, and they are more likely to pose safety risks. Together they create a situation where accidents per mile drive stay the same but costs per accident increase.
In any event, going back to what you can expect now, given the maximum time frame a CEO is five years, planning this far out in the future seems unlikely.
The other issue of course is the time horizon. The average vehicle stays on the road for 12 years. When these vehicles appear, you still have a long phase out before the vehicles without the safety features are off the roads. You see the problem now for insurers. New cars are safer and prevent or mitigate bodily damage but jack the price of repairs. Old cars are cheap to replace but result in higher levels of bodily damage, and they are more likely to pose safety risks. Together they create a situation where accidents per mile drive stay the same but costs per accident increase.
In any event, going back to what you can expect now, given the maximum time frame a CEO is five years, planning this far out in the future seems unlikely.
